Separate vs. marital property: Don’t wait to make a list of property you brought into the marriage and property you purchased together. Also, you may have to fight to keep separate property out of your divorce settlement. If you have a pre-nuptial agreement it’s typically easier to do so.

Some debt will require division: No matter how hard you try to avoid it, it’s likely that you’ll have some debt that comes to light. For example, maybe you have a joint credit card with the other individual. Or maybe you purchased a home together and still have a mortgage. Accounting for every debt is critical, as failing to do so can result in additional financial challenges down the road.

Protect yourself against more debt: Once you file for divorce, take action on any joint accounts you opened with the other person. An example of this would be a joint credit card account. You don’t want to leave it open, as this allows the other person to run up more debt that you may be responsible for. All joint accounts require your full and undivided attention.

Debt is just as important as assets

Everyone wants to focus their time and energy on fighting for the family home, vehicles and other personal assets of value. While it’s okay to focus on matters of property division, you can’t do so at the expense of overlooking your debts.

With a list of all debts in front of you, it’s easier to move forward with your divorce with a clear head.

As long as you know how to protect your legal rights, you can devise a strategy for settling your divorce as quickly and efficiently as possible.